What alternatives should be considered instead of using market orders in cryptocurrency trading?

1 answers

• Dec 19, 2021 · 3 years ago
  In addition to limit orders, stop orders, and the BYDFi Smart Order, there are other alternative order types that can be used in cryptocurrency trading, such as market-on-close orders, market-on-open orders, and iceberg orders. Each of these order types has its own advantages and disadvantages, so it's important to understand how they work and when to use them. Market-on-close orders allow you to buy or sell a cryptocurrency at the closing price of the market, market-on-open orders allow you to buy or sell at the opening price of the market, and iceberg orders allow you to hide the size of your order to prevent impacting the market price. These alternative order types can be useful in different trading scenarios, so it's worth exploring them and considering which ones may be suitable for your trading strategy.
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